Airtable, the code-free software company that was recently valued at $11.7 billion, today announced that it will lay off 237 people, or 27% of the company. Howie Liu, Airtable’s founder and CEO, says the cuts are part of a plan to focus the company on winning large enterprise clients and get spending under control. The cuts follow a December 2022 layoff that shed 254 people.
“The market has tipped towards favoring efficient growth over growth at all costs,” Liu tells Forbes. “We must operate the business in a more mature way that puts us on a path to become a public company and to have durability and efficiency in how we grow.”
Howie Liu, co-founder and chief executive officer of AirTable, smiles during a Bloomberg Technology ... [+] television interview in San Francisco, California, U.S., on Thursday, March 15, 2018. Liu talked about the gap his company fills in Silicon Valley. Photographer: David Paul Morris/Bloomberg
Liu, 35, says that Airtable, a Forbes Cloud 100 honoree, had been swept up in the hiring frenzy that spread across the tech world following the easy-money days that followed the COVID lockdowns of 2021.